JS Auto Cast Foundry India Private Limited (JSA), a wholly owned stepdown subsidiary of Bharat Forge Limited, has raised Rs 300 crore in equity from Premji Invest, the investment firm of industrialist Azim Premji. The funds were infused as a primary capital investment, and Premji Invest will now hold a 23% stake on a fully diluted basis, Bharat Forge said in an official statement to stock exchanges.
The capital infusion is aimed at accelerating JSA’s growth through expansion of casting capacity, investments in medium casting operations, and strategic acquisitions to consolidate the ferrous casting industry in India. The company is a leading supplier of critical ferrous castings for automotive and industrial applications.
Amit Kalyani, Vice Chairman and Joint Managing Director of Bharat Forge, highlighted JSA’s performance since its acquisition in 2022, noting that the company’s topline, exports, and profitability have grown at a compound annual growth rate of 17%, 24%, and 25% respectively. He expressed enthusiasm for partnering with Premji Invest to further strengthen JSA’s market presence and product portfolio.
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Manoj Jaiswal, Partner at Premji Invest, said the collaboration aligns with the firm’s strategic objective of partnering with leading Indian conglomerates on growth and consolidation journeys. He added that through this investment, both parties aim to develop JSA into a top-tier ferrous casting platform in the country.
PWC Investment Banking served as the sole financial advisor to Bharat Forge for this transaction. Analysts see the investment as a strong vote of confidence in the Indian manufacturing and automotive sector, particularly in specialty components and castings, which are expected to see rising demand in domestic and export markets.
The deal marks another milestone for Bharat Forge’s strategic expansion, positioning JSA for accelerated growth in high-value industrial segments while strengthening ties with prominent institutional investors like Premji Invest. The company plans to use the capital to enhance operational efficiency, expand capacity, and explore potential mergers and acquisitions.
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